Evan Spiegel, CEO of Snap Inc., attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 9, 2025.David A. Grogan | CNBCSnap shares tanked 15% Tuesday when it reported second-quarter earnings in which global average revenue per user missed expectations.Here is how the company did compared with Wall Street’s expectations:Earnings per share: Loss of 16 cents. That figure is not comparable to analysts’ estimates.Revenue: $1.34 billion vs. $1.35 billion expected, according to LSEG Global daily active users: 469 million vs. 467 million expected, according to StreetAccountGlobal average revenue per user:…
Author: usaeverydaylife
Ilkercelik | Istock | Getty ImagesWe’re about to witness a regime change in productivity. Prepare for the “RIA of 1”: A single financial advisor supported by a collection of autonomous and augmented AI agents and applications.This isn’t a whimsical notion; it’s the inevitable outcome of AI fundamentally transforming the advisory space, augmenting advisors and reshaping firm structures through unprecedented efficiency. This efficiency isn’t merely incremental; it represents a paradigm shift, far exceeding the capabilities of even the most sophisticated traditional tools.AI-powered tools will enable advisory firms to prospect and convert. They will streamline client onboarding and service. AI will enable…
As Fundstrat’s Tom Lee says, this is the most hated bull market of all time, yet it continues to power higher. There are plenty of overhanging uncertainties that could derail this rally that I’ll discuss below, but first let’s talk about technical condition of this rally. This V-shape recovery-turned-rally from April lows has been unrelenting. Any minor pullbacks are bought up and those left on the sideline are still waiting for a sizable pullback to enter. It could continue to power higher leaving those on the sideline chasing momentum and entries at new highs, or, the numerous overhanging threats to this…
Electrical equipment supplier Eaton , whose products are essential to AI data centers, on Tuesday reported a solid second quarter and raised its full-year outlook. Nevertheless, the stock tumbled in response because the positive results fell short of the sky-high bar that Wall Street had set. Adjusted earnings per share for the second quarter ended in June rose 8% from the year-ago period to $2.95, beating the LSEG compiled analyst consensus estimate by three cents. Revenue rose 10% to $7.03 billion, beating the LSEG compiled analyst consensus estimate of $6.9 billion. Organic sales grew 8%, exceeding the Bloomberg estimate for…
A ferry passenger looks at a cargo ship full of shipping containers at the port of Oakland, California, U.S., August 4, 2025. Carlos Barria | CbThe U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, and the trade gap with China shrank to its lowest in more than 21 years, the latest evidence of the imprint on global commerce President Donald Trump is making with sweeping tariffs on imported goods.The overall trade gap narrowed 16.0% in June to $60.2 billion, the Commerce Department’s Bureau of Economic Analysis said on Tuesday. Days after reporting that the…
A screen displays the the company logo for Goldman Sachs on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 7, 2025. Brendan McDermid | ReutersChanges to the American labor market brought on by the arrival of generative AI are already showing up in employment data, according to a Goldman Sachs economist.Most companies have yet to deploy artificial intelligence in production cases, meaning that the overall job market hasn’t yet been significantly impacted by AI, said Joseph Briggs, senior global economist of Goldman’s research division, in a podcast episode shared first with CNBC.But there…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves : Wall Street on Tuesday was having a hard time keeping Monday’s rally going. The S & P 500 spent much of the afternoon in the red, one day after making back much of Friday’s 1.6% drop. Weak jobs data was the reason for Friday’s decline, but also the reason behind the near 90% market odds of a Federal Reserve interest rate cut in September. During Tuesday morning’s CNBC…
Walt Disney is on the docket to release fiscal third-quarter results before the stock market’s opening bell Wednesday, and most analysts expect the entertainment giant to once again beat Street expectations. An LSEG survey shows analysts, on average, estimate that Disney will earn $1.47 per share on $23.73 billion in revenue. Those results would correspond to earnings growth of 1.5% year over year, as well as a 2.5% rise in revenue when compared to the year-earlier period. The low-single-digit growth comes after Disney’s fiscal second-quarter earnings and revenue beat analyst expectations, boosted by better-than-anticipated subscriber growth for the Disney+ streaming…
Credit card balances are ticking higher in 2025, according to a new quarterly report on household debt from the Federal Reserve Bank of New York.Balances rose by $27 billion in the second quarter to a collective $1.21 trillion — in line with last year’s all-time high. The total is up 2.3% from the previous quarter.At the same time, “we are still seeing elevated delinquency rates for credit cards,” the New York Fed researchers found, with 6.93% of balances transitioning to delinquency over the last year.”This looks to be a little bit of catch up,” the researchers said on a press call Tuesday, in…
U.S. President Donald Trump and Rupert Murdoch. Kevin Lamarque | Ricky Carioti | Via ReutersConservative media baron Rupert Murdoch will give President Donald Trump regular updates on his health as part of an agreement to postpone Murdoch’s deposition in Trump’s $10 billion defamation lawsuit against him over a Wall Street Journal article about late sex offender Jeffrey Epstein.The unusual stipulation in Miami federal court comes a week after Trump’s lawyers sought a deposition from Murdoch within 15 days. Their motion had implied that Murdoch might be either dead or too sick to testify in person by the time the case…
